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STUDENTS LAMENT that the days of lavish and impulsive spending are behind them, with parents cutting down on the flow of cash.
“The first couple of weeks were tough. There was chaos at the university banks and ATM machines,” says Priya Garg, a student of Chemistry Department.
When the decision was announced on November 8, there was a rush of Panjab University students to deposit examination fee. “The scene in the university hostels was unbelievable as everyone from the next day onwards was seen in a queue either at various ATMs, banks inside the university or outside in adjacent sectors,” says Priya.
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After the demonetisation, students have cut down on their expenditure. “Now the parents have also started putting less money in our bank accounts due to unavailability of cash,” says Priya. “Earlier, we would spend freely without thinking much but now the first thing that comes to the mind is do we have change? If yes, how much would be sufficient for the coming days?”
New Rs 2,000 currency notes have also been of no help to students studying at Panjab University, as nobody has the change available with them. “Due to unavailability of currency notes, nobody is willing to give change for Rs 2,000 note. The mere thought of standing in a queue makes us save money and spend less,” says Priya.